Keefe, Bruyette & Woods Boosts Hippo (NYSE:HIPO) Price Target to $32.00

Hippo (NYSE:HIPO) had its price objective increased by Keefe, Bruyette & Woods from $30.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 15.80% from the stock’s current price.

A number of other research analysts have also recently issued reports on HIPO. Zacks Research upgraded Hippo to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded Hippo from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Finally, B. Riley Financial initiated coverage on Hippo in a research report on Friday, April 17th. They issued a “buy” rating and a $38.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Hippo Price Performance

Shares of NYSE HIPO traded up $0.25 during mid-day trading on Thursday, reaching $27.64. The company had a trading volume of 35,132 shares, compared to its average volume of 125,996. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.94 and a current ratio of 0.99. Hippo has a one year low of $19.92 and a one year high of $38.98. The firm has a market cap of $717.68 million, a price-to-earnings ratio of 6.40 and a beta of 1.53. The business’s 50-day simple moving average is $26.92 and its 200 day simple moving average is $29.98.

Hippo (NYSE:HIPO) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.67 EPS for the quarter. Hippo had a return on equity of 12.17% and a net margin of 23.45%.The company had revenue of $120.40 million for the quarter. On average, research analysts predict that Hippo will post 0.84 earnings per share for the current fiscal year.

Insider Transactions at Hippo

In related news, CEO Torben Ostergaard sold 6,105 shares of Hippo stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $28.57, for a total value of $174,419.85. Following the transaction, the chief executive officer directly owned 46,694 shares of the company’s stock, valued at $1,334,047.58. The trade was a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Mccathron sold 5,000 shares of Hippo stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $26.05, for a total value of $130,250.00. Following the completion of the transaction, the chief executive officer directly owned 610,650 shares in the company, valued at approximately $15,907,432.50. This represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,705 shares of company stock worth $597,934 over the last three months. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Hippo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hippo in the fourth quarter worth approximately $26,000. Altshuler Shaham Ltd lifted its stake in Hippo by 270.4% in the fourth quarter. Altshuler Shaham Ltd now owns 1,000 shares of the company’s stock valued at $30,000 after buying an additional 730 shares during the period. Quantbot Technologies LP acquired a new position in shares of Hippo during the 2nd quarter valued at $33,000. AlphaQuest LLC lifted its position in shares of Hippo by 109.5% during the 3rd quarter. AlphaQuest LLC now owns 1,251 shares of the company’s stock valued at $45,000 after acquiring an additional 654 shares during the period. Finally, Torren Management LLC acquired a new position in shares of Hippo during the 4th quarter valued at $55,000. 43.01% of the stock is owned by institutional investors and hedge funds.

About Hippo

Hippo Enterprises Inc is a technology-driven home insurance company that offers modernized homeowners insurance products through a digital-first platform. Leveraging data analytics, artificial intelligence and smart home devices, the company designs tailored coverage plans intended to streamline the underwriting process and deliver more comprehensive protection for homeowners. Hippo’s policies typically include standard dwelling coverage, personal property protection and liability insurance, along with optional add-ons such as water backup, home computer systems and equipment breakdown coverage.

Through its online portal and partner network of licensed insurance agents, Hippo provides policyholders with a range of services aimed at minimizing risk and preventing losses before they occur.